Activision Blizzard, Inc. (NASDAQ:ATVI) Short Interest Down 6.9% in October

Activision Blizzard, Inc. (NASDAQ:ATVI) was the target of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 22,750,000 shares, a decrease of 6.9% from the September 30th total of 24,430,000 shares. Approximately 3.0% of the company’s shares are sold short. Based on an average daily trading volume, of 7,590,000 shares, the short-interest ratio is currently 3.0 days.

NASDAQ:ATVI opened at $53.28 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.43 and a quick ratio of 3.38. The firm has a 50-day moving average of $54.52 and a two-hundred day moving average of $49.60. The stock has a market cap of $41.06 billion, a P/E ratio of 22.29, a PEG ratio of 2.40 and a beta of 0.87. Activision Blizzard has a 1-year low of $39.85 and a 1-year high of $57.52.

Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.09. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Activision Blizzard had a net margin of 23.66% and a return on equity of 13.91%. The firm’s revenue for the quarter was down 27.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.52 EPS. As a group, equities analysts expect that Activision Blizzard will post 2.03 earnings per share for the current year.

In other news, insider Christopher B. Walther sold 5,333 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $52.67, for a total transaction of $280,889.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Collister Johnson sold 3,800 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $52.43, for a total value of $199,234.00. Following the sale, the chief operating officer now owns 280,983 shares of the company’s stock, valued at $14,731,938.69. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,466 shares of company stock valued at $751,200. Insiders own 1.31% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Lyell Wealth Management LP boosted its position in Activision Blizzard by 15.3% in the 3rd quarter. Lyell Wealth Management LP now owns 34,155 shares of the company’s stock valued at $1,807,000 after buying an additional 4,540 shares during the last quarter. Rational Advisors LLC boosted its position in Activision Blizzard by 343.6% in the 3rd quarter. Rational Advisors LLC now owns 10,824 shares of the company’s stock valued at $573,000 after buying an additional 8,384 shares during the last quarter. Bogart Wealth LLC boosted its position in Activision Blizzard by 31.0% in the 3rd quarter. Bogart Wealth LLC now owns 8,126 shares of the company’s stock valued at $430,000 after buying an additional 1,924 shares during the last quarter. Close Asset Management Ltd boosted its position in Activision Blizzard by 52.8% in the 3rd quarter. Close Asset Management Ltd now owns 82,836 shares of the company’s stock valued at $4,383,000 after buying an additional 28,633 shares during the last quarter. Finally, Corient Capital Partners LLC boosted its position in Activision Blizzard by 24.0% in the 3rd quarter. Corient Capital Partners LLC now owns 9,319 shares of the company’s stock valued at $493,000 after buying an additional 1,802 shares during the last quarter. 87.59% of the stock is owned by institutional investors.

A number of analysts have recently commented on ATVI shares. Argus restated a “focus list” rating on shares of Activision Blizzard in a report on Friday, November 15th. Credit Suisse Group dropped their price objective on Activision Blizzard from $65.00 to $64.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. SunTrust Banks upped their price objective on Activision Blizzard from $56.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, October 11th. BidaskClub downgraded Activision Blizzard from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Bank of America set a $62.00 price target on Activision Blizzard and gave the company a “buy” rating in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $60.30.

Activision Blizzard Company Profile

Activision Blizzard, Inc develops and distributes content and services on video game consoles, personal computers (PC), and mobile devices. The company operates through three segments: Activision Publishing, Inc; Blizzard Entertainment, Inc; and King Digital Entertainment. It develops, publishes, and sells interactive software products and entertainment content for the console and PC platforms through retail and digital channels, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies; and offers downloadable content.

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